Abstract: Disclosed are a system and a method for communicating with a financial institution over a communication network to manage payments of payee initiated by a sender. The system includes a database for storing a plurality of modules, a central server for monitoring and updating the plurality of modules, a processing unit that processes the plurality of modules. The plurality of modules includes a notification module, a payee module, a dashboard module, a refunds module, a payment process module, and a remittance summary module. The notification module allows the sender to send a payment summary to each payee. The payee module allows the payee to upload the payee's details, to select a mode of payment to receive the payment. The payment process module processes the payment as per the mode selected by the payee in the payee module, further processes the payment via cheque mode if the payee fails to update the mode of payment in a pre-defined duration.

Abstract: A unique implementation of a machine learning application for suggesting actions for a user to undertake is described herein. The application transforms a history of user behavior into a set of models that represent user actions given a set of parameters. These models are then used to suggest that users in a payments or banking environment take certain actions based on their history. The models are created using the DensiCube, random forest or k-means algorithms.

Abstract: A method and apparatus for improving the management of cash and liquidity of an organization utilizing a plurality of currency accounts is described. The improvements optimize the interest earnings for the cash balances in each currency account, and minimizes the expenses related to funding the currency accounts. Machine learning techniques are incorporated to forecast payments, receipts, interest rates and currency exchange rates, and then cash is transferred or borrowed or loaned to fund the payments and utilize available cash.

Abstract: A novel technique for matching, merging, and combining a new database record with a master database record is described herein. The technique uses specific fields to compare in a unique exact match and fuzzy match combination to determine if a non-exact matching record pair is indeed a matched pair. Once the match is established, the records are merged or combined to utilize the best information from the two records.

Abstract: An improved method and apparatus for determining if a financial transaction is fraudulent is described. The apparatus in one embodiment collects transactions off of a rail using promiscuous listening techniques. The method uses linear programming algorithms to tune the rules used for making the determination. The tuning first simulates using historical data and then creates a matrix of the rules that are processed through the linear programming algorithm to solve for the variables in the rules. With the updated rules, a second simulation is performed to view the improvement in the performance. The updated rules are then used to evaluate the transactions for fraud.

Abstract: A legal spend management solution is described herein, a solution that utilizes improved machine learning algorithms to match lines of a legal invoice to lines in a receipt from a set of receipts. The matching uses cosine similarity algorithms and Levenshtein distances to determine whether there is a match between the receipt and the invoice lines. The machine learning results are displayed using a novel set of icons that present the confidence score with a set of three squares below a document icon.

Abstract: A unique system for data visualization of invoice data and financial information on a graphical user interface is described herein. The system comprises of a visual display for invoices, the transactional data regarding these invoices, and the processing of those invoices. The visual display includes a timeline with vertical bars emanating from it, wherein these vertical bars correspond to groupings of invoice data based on user inputted and automated computer inputted information. Users input a start date for the timeline or an amount of elapsed days for the timeline. The timeline includes displaying matched and outstanding invoice data, wherein the visualization allows users to view graphically the interaction between them.

Abstract: Disclosed is a system and a method for verifying a user using reality applications. The system includes a database for storing plurality of modules, a server coupled to the database for processing the stored plurality of modules, a reality glasses having a camera to capture movements of the user, and a reality display coupled to the server to overlay virtual objects and the processed plurality of modules onto a field of view of the user, wherein the plurality of modules authenticates the user to access at least one of the virtual objects. The plurality of modules includes a biometric module performs a first level verification by performing biometric scans on the user, using the reality camera, a signature module performs a second level verification by verifying signature of the user drawn in air captured by the reality camera, and a signature motion flow module performs a third level verification by verifying flow of the user's signature captured by the reality camera.

Abstract: A novel distributed method for machine learning is described, where the algorithm operates on a plurality of data silos, such that the privacy of the data in each silo is maintained. In some embodiments, the attributes of the data and the features themselves are kept private within the data silos. The method includes a distributed learning algorithm whereby a plurality of data spaces are co-populated with artificial, evenly distributed data, and then the data spaces are carved into smaller portions whereupon the number of real and artificial data points are compared. Through an iterative process, clusters having less than evenly distributed real data are discarded. A plurality of final quality control measurements are used to merge clusters that are too similar to be meaningful. These distributed quality control measures are then combined from each of the data silos to derive an overall quality control metric.

Abstract: Disclosed is an apparatus for matching a payment received from a remitter for two or more invoices generated by a beneficiary against invoices of two or more customers associated with the remitter. The apparatus includes a storage unit for storing a plurality of computer program instructions, a graphical user interface for displaying a graphical output, and a processing unit for processing the plurality of computer program instructions. The plurality of computer program instructions includes a payment receive module to receive a payment from the remitter, a total amount module to display the total amount received from the remitter, a customer account module to display a list of invoices generated by the beneficiary against the customers associated with the remitter, and a split payment module to split the total amount into multiple split amounts. Each split amount matches the amount on at least one customer's invoice, and the total amount matches the sum of amounts on two or more customer's invoices.

Abstract: A method for securing data by embedding the data in a data structure and utilizing a sensor device to detect transfer of the data structure. The data is embedded such that the data is only accessible by first executing an executable program. If the executable program determines that the device attempting to access the data (the accessing device) does not have permission to access the data, then the executable program destroys all or a portion of the data. If the data structure is transferred to another device, a sensor device positioned to detect the data structure when transferred will identify the data. If the sensor device determines that the data structure is not permitted to be transferred, then the sensor device destroys all or a portion of the data.

Abstract: A system, method and apparatus for providing a global service for securely storing deposit instructions is described. The service provides payment processing services with a central location to translate payee information into a revocable d-token that represents the payee deposit instructions. A second service allows qualified banking institutions to convert the d-token into deposit instructions to effectuate a funds transfer.

Abstract: Disclosed is a system for scoring customers of a financial institution based on financial data. The system includes a central database that stores a plurality of modules, a central server that processes the plurality of modules and a display unit that displays the processed plurality of modules. The plurality of modules includes a criteria configuration module, a data module, and a computation module. The criteria configuration module includes a metric module to receive the input parameters required to evaluate the score, and a measurement module for defining transformation criteria to be applied on the data corresponding to the input parameters. The computation module includes a metric evaluation module to compute and applies the transformation criteria to the values of the input parameters, and a scoring module coupled to the metric evaluation module to automatically compute and display the score of the customers based on the values retrieved from the metric evaluation module.

Abstract: A unique implementation of a machine learning application for suggesting actions for a user to undertake is described herein. The application transforms a history of user behavior for a plurality of users into a set of models that represent user actions, and the optimal actions, given a set of parameters. These models are then used to suggest that users in a payments or banking environment take certain actions based on a best in class model derived from the best performing user. The models are created using the DensiCube, random forest, K-means or other machine learning algorithms.